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Market Size – USD 1.06 Billion in 2018, Market Growth - CAGR of 4.1%, Market Trends – Increased awareness related to organ transplantation.
NEW YORK, NY, UNITED STATES, December 23, 2021 /EINPresswire.com / -- According to the current analysis of Reports and Data, the global Organ Perfusion System market was valued at USD 1.06 billion in 2018 and is expected to reach USD 1.46 billion by the year 2026, at a CAGR of 4.1%. Organ Perfusion Systems are used for storing the organs isolated from the donor's body under a well-monitored environment to maintain the health of the organ before being transplanted into the receptor's body. Most commonly perfused organs include the heart, kidney, liver, lungs, and others. Increasing prevalence of heart and respiratory diseases has led to an increase in the rates of organ failure. This is expected to drive the demand for organ transplantations. Rise in disposable income and changing lifestyle has led to an increase in heart disease cases while excessive alcohol consumption is increasing the rate of kidney failures, thus increasing the demand for kidney transplants. In addition, increasing awareness associated with organ donation has led to an increase in the number of registered organ donors. Increasing pharmaceutical research and growing investments in the new technologies is further expected to expand the market for organ perfusion system. Some strategies adopted by the major market players included joint ventures, partnerships, mergers & acquisitions, and the launch of new products. LivaNova, one of the leading providers of cardiovascular and neuromodulation solutions, designed a fifth-generation modular, heart-lunch machine, called cardiovascular S5, that provides higher standards for functionality, flexibility, and quality.
Since organ transplantation is the best way of saving the life of a patient with end-stage organ diseases, an increase in organ donation activities has led to the rise in the number of survivors of organ failure. For example, Times Organs Donation Drive held in Mumbai, India, has led to a surge in organ donations, including cadaveric organ donation. Thus, growing awareness, increased organ transplantation, increased investments in research, and deployment of new technology in the healthcare sector is driving the growth of the organ perfusion system market. However, the lack of accessibility and expensive organ transplantation is expected to restrain the market during the forecast period.
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Leading companies operating in the market and profiled in the report include:
Getinge AB (Sweden), Medtronic plc (Ireland), LivaNova PLC (U.K.), Terumo Corporation (Japan), and XENIOS AG (Germany), Lifeline Scientific, Inc. (U.S.), XVIVO Perfusion AB (Sweden), Repligen corporation and OrganOx.
Market Overview:
The pharmaceutical and healthcare sector is rapidly expanding in terms of revenue in the recent years and is expected to register robust CAGR over the forecast period of 2028. Factors such as rapid advancements in the pharma and healthcare sector, adoption of latest technologies, tools and equipment, emergence of various new diseases and improvements in healthcare facilities and infrastructure. In addition, rising healthcare expenditure, increasing per capita income in the developing countries and favorable reimbursement policies are fueling market growth. Increasing funds by various public and private sectors and increasing investments to develop enhanced products and devices are also boosting market growth. Moreover, increasing preference for ambulatory services and point of care services, and increasing funds for research centers and hospitals for drug discovery is expected to fuel market growth going ahead.
Competitive Landscape:
The report provides details about competitive landscape of global Organ Perfusion System market focusing on every market player, its global position, revenue generation product portfolio, company overview, financial planning and business expansion plans. The global Organ Perfusion System market is quite competitive and comprises various key players at global and regional levels. Key players are investing in research and development activities, and strategizing various plans such as mergers and acquisitions, partnerships, joint ventures, new product launches, to enhance their product base and strengthen their market position.
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Further key findings from the report suggest
•Organ Perfusion System market is growing at a CAGR of 5% in Asia Pacific followed by North America and Europe, with 4.2 % and 4.0% CAGR, respectively. High demand for organ transplantation is expected to drive the market for organ perfusion systems.
•As of 2018, Hypothermic is the dominating Organ Perfusion System which holds 64.1% of the global market. North American regional market is the chief revenue generating source for this product segment, followed by Asia-Pacific and European regions
•Presence of government initiatives such as National Organ transplant Programme and other non-profit organization such as Shatayu, Gift Your Organ, Multi Organ Transplantation and Human & Education Research (MOTHER) and many other organizations help in increasing the awareness of organ transplant.
•Introduction of new technology like the living organ transplant that is capable of keeping the organ alive for a longer duration of time after being removed from the body offers new growth opportunities.
•In order to maintain the health of the isolated organ, certain conditions and physiological parameters such as pH, pO2, pH and oxygen levels are required to be monitored. Some organs may require additional equipment and care based on their functions such as the isolated perfused lungs.
•Innovative technology enables easy storage and transplantations of organ from one person to another with reduced risks. The Organ Care System (OCS) Heart, which preserves a donor's heart in a near-normothermic environment in a beating state until it is replanted in the receptor's body.
•Growing government initiatives associated with organ donation and transplantation has eventually led to an increase in the number of organ transplantation cases. For example, Government of India enacted the Transplantation of Human Organs (Amendment) Act, for inclusion of grandchildren and grandparent in the 'near relative' category.
•Additionally, several non-government organizations are working towards increasing the awareness related to the deaths caused by organ failure and educating the people for organ donation. For instance, Apex Kidney Foundation was set up to prevent kidney diseases by educating the people and through early detection.
•A technology that enables the property of damage reversible is used for problematic organ transplantation like lungs. Only 20% of the lungs from a deceased donor is fit enough for transplantation, however, with the new technology ,the lungs are kept on physiological circuit and are continuously ventilated and perfused till the damage is recovered and the lungs are healthy enough to be transplanted.
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For the purpose of this report, Reports and Data has segmented the Organ Perfusion System market on the basis of type, organ type, technique type, component type, end use, and region:
Type (Revenue, USD Million; 2016–2026)
•Bioreactors perfusion systems
•Microfluidic perfusion systems
•Pressure-driven perfusion systems
Organ Type (Revenue, USD Million; 2016–2026)
•Heart
•Lung
•Liver
•Kidney
•Others
Technique Type (Revenue, USD Million; 2016–2026)
•Hypothermic
•Normothermic
Component Type (Revenue, USD Million; 2016–2026)
•Perfusion Pumps
•Oxygenators
•Heart Lung Machine
•Monitoring Systems
•Cannulas
•Others
End Use (Revenue, USD Million; 2016–2026)
•Hospital
•Clinic
•Ambulatory Surgical Centers
•Others
Regional Outlook:
•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
•Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
•Latin America (Brazil, Rest of LATAM)
•Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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